SECURITY AGREEMENTSecurity Agreement • August 15th, 2016 • Adcare Health Systems, Inc • Services-skilled nursing care facilities
THIS SECURITY AGREEMENT (the "Agreement") is made and entered into, as of this 6th day of July 2016, by and among OS TYBEE, LLC, a Georgia limited liability Debtor (“OS Tybee”), SB TYBEE, LLC, a Georgia limited liability Debtor (“SB Tybee”) and JV JEFFERSONVILLE, LLC, a Georgia limited liability Debtor (“JV Jeffersonville”) (OS Tybee, SB Tybee and JV Jeffersonville are sometimes collectively referred to as “Debtors”), and ADK GEORGIA, LLC, a Georgia limited liability Debtor ("Secured Party"), with reference to the following facts:
MASTER SUBLEASE AGREEMENTMaster Sublease Agreement • August 15th, 2016 • Adcare Health Systems, Inc • Services-skilled nursing care facilities • Maryland
Savannah Beech Laundry – Repairing 2 washers and one dryer Completed Savannah Beech 6 PTAC’s not working $5,500 Still need 6 for vacant rooms Savannah Beech Sprinkler heads needed in closets $9,000 They have not been officially sited yet but will be on the next annual survey. Savannah Beech Hot water tank Laundry $4,200 Repaired at this time. Don’t believe it will last to long Both Savannah Beech and Oceanside Dining room Tables $4,500 6 Dining room Tables with chipped and ruff edges Both Savannah Beech & Oceanside 60 New mattresses Complete 68 have been received and disturbed. Both Savannah Beech and Oceanside Bedside cabinets, over the bed tables $7,500 Over the bed tables have been ordered and received. Not every room has a bedside cabinet. Approximately 50 needed.
Valley River Property Holdings, LLC Homestead Property Holdings, LLC Park Heritage Property Holdings, LLC MT. V Property Holdings, LLC Mountain Top Property Holdings, LCC Little Rock HC&R Property Holdings, LLC Woodland Hills HC Property Holdings, LLC...Adcare Health Systems, Inc • August 15th, 2016 • Services-skilled nursing care facilities
This letter shall confirm that the parties have agreed, for good and valuable consideration, the receipt of which is acknowledged, to amend and modify the Master Lease and Purchase Agreement as follows:
